Olabode Adaramola The State Security Service, SSS, has arrested the managing director of Capital Oil and Gas Limited,  Patrick Ifeanyi Ubah, on allegation bothering  on economic sabotage. According to the Directorate of the State Security Service, Mr. Ubah was detained on Friday in connection with  missing petroleum products. “The arrest was sequel to Ubah’s engagement in acts of economic sabotage …

Over 200,000 women die yearly during pregnancy and childbirth, the United Nations Population Fund (UNFPA) has said. Going by the statistics, over 30 pregnant women are lost hourly due to complications surrounding their state, a worrisome development that the world has to battle with. Former Health Minister, Prof. Babatunde Osotimehin, who is also UNFPA Executive Director, revealed at the occasion …

The Lagos State Police Command on Friday said it had discovered a new kidnappers’ hideout where arms as well as Police and military life jackets were recovered. The Commissioner of Police in Lagos, Mr. Fatai Owoseni, who confirmed the discovery to newsmen, said the hideout was discovered during the raids of creeks at Isawo in Ikorodu area of Lagos. Owoseni said …

The board of directors of Custodian and Allied Plc has received the approval of shareholders to raise additional capital that will support the company’s business. This was one of the major highlight of the resolutions that was passed by shareholders at the company’s 22nd Annual General Meeting in Lagos. Other resolutions that got shareholders endorsement includes the increase in the …

Keystone Bank was on Thursday readmitted into the spot and wholesale forwards segment of the foreign exchange market by the Central Bank of Nigeria (CBN) sequel to the provision of evidence of sales of foreign exchange to Small and Medium scale Enterprises (SME) since the introduction of the special window for small businesses. The CBN had banned fourteen banks from …

For youths under the Bank of Industry’s Graduate Entrepreneurship Fund (GEF) programme, access to loans will henceforth be at zero per cent interest charge from the initial nine per cent, thus requiring only the repayment of the principal amounts in a bid to enhance business creation and sustainability. According to the Bank, the GEF scheme being implemented by the Bank …

Sterling Bank says transparency, continuous engagement, proper documentation and promptness in sending returns of unutilised foreign exchange to the Central Bank of Nigeria are the main factors that helped the bank to escape the regulator’s ban from its Small and Medium Enterprises foreign exchange window. The CBN had on Wednesday announced the ban on 16 banks from its “SME foreign …

Shareholders of NASCON Allied Industries Plc on Thursday unanimously lauded the decision of the company to pay a dividend of 70 kobo per share as against the 55 kobo paid in 2015. Chairman of the Independent Shareholders Association, Chief Sunny Nwosu, described the board of Nascon as very efficient and focus, urged them not to relent and work more to …

An Ado-Ekiti Customary Court on Friday dissolved the three-year-old marriage between Mr Mayowa Ogunrinde and his wife, Busayo, over frequent fighting and disrespect for in-laws. The petitioner, Ogunrinde, 35, a civil servant, also told the court that his wife has no respect for him. “Most of the time, I do all the domestic chores while my wife will always watch …

Japan has applauded Nigeria’s effort in improving the business environment in the country and lauds the country’s Economic Recovery and Growth Plan which it described as the key to the revival of the country’s economy. The country’s Parliamentary Vice Chairman for Foreign Affairs, Takei Shunsuke, who led a 32-man Joint Trade and Investment Mission to Nigeria, said in Abuja on …